The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.
Fannie Mae and Freddie Mac's final Duty to Serve plans are moving ahead with expanded support for manufactured housing through both single-family and multifamily programs, including controversial personal property loans.
Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."
The Federal Housing Finance Agency's final guidelines for evaluating "duty to serve" activities create new ways for Fannie Mae and Freddie Mac to get extra credit for going above mandatory levels of lending to underserved markets.
Conforming loan limits for mortgages bought by Fannie Mae and Freddie Mac will increase for the second consecutive year in response to the rapid rise in home prices, the Federal Housing Finance Agency said.